Post on 14-Apr-2018
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Book Review
By,
Nikhil Abbi (B002)Sridhar E (B021)
Piyush Gupta (B025)
Sagar Gupta (B027)
Rahul Sangani (B050)
Rohit Solanki (B057)
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The Book
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The Author
John Francis "Jack" Welch,Jr
Born in Massachusetts
PhD -Chemical Engineering
Former Chairman & CEO of
GE
Manager of the Century
Fortune
One of the three most
admired business leaders
in the world -
Financial Times
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Winning
Winning:noun. The act of a person orthing that wins.
Verb. a) Acquire something through
effort
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Method of study
Selection of book
Thorough reading of the book
Division of parts of the bookamongst ourselves
Brainstorming over the IDLtheories
Collating ideas into the report
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Contents of the book
Winning is brutally hard but achievable
There are no easy formulae for
success
Book however gives:
a) Guidelines to follow
b) Rules to consider
c) Assumptions to adopt
d) Mistakes to avoid
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Structure of the book
Underneath It All
Mission and
Values
Candor
Differentiation Voice and Dignity
Your CompanyLeadership
Hiring
People Management
Parting Ways
ChangeCrisis Management
Your Competition
Strategy Budgeting
Organic Growth
Mergers &
Acquisitions
Six Sigma
Your Career
The Right Job Getting Promoted
Hard Spots
Work Life
Balance
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Differentiation
Underneath It All
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Missions: How do you plan on winning inthis business? Thats your missionstatement
Values: Values are the behaviours youplan to exhibit in achieving your mission
Candor: Being honest and straightforward
Voice & Dignity: Listening to andrespecting everybodys opinion aboutbusiness decisions.
Differentiation: Identifying the top 20%,the middle 70% and bottom 10% ofemployees in the team
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Your Company
Your Company
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Key elements ofLeadership: Optimism,
trust, candor, courage, risk taking and
transparency
Parting Ways Mistakes to avoid aresurprises, humiliation and procrastination
Change requires clear goals, hiring &
promotion of go-getters, removal of resistersand exploitation of wrecks
Crisis Management: assumptions to be
made:
Worse than you imagined
Everybody will come to know of it
Media will crucify you
Systems and people must change
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PositiveEnergy
Can Energizeothers
Has an Edge Can Execute
Passion
Ability tosee around
corners
Encircledwith smart
people
Authenticity
Heavy-dutyResilience
Hiring at Top Positions
4E and 1P
Framework for hiring
Ensure use of rigorous,
non-bureaucratic
evaluation system
Jack Welch used this to
increase hiring success
rate from 50% to 80%
Hiring
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People Management
Give HR powerand primacy
Rigorouslyevaluate with
proven system
Motivate and retainwith money,recognition,
training
Confronttroublemakers: and
big stars withcandor & action
Spend resources toevaluate and coach
the middle 70%
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Your Competition
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Dealing with competition
Dealingwith
competition
Strategy
Budgeting
BusinessExpansio
n
QualityImprovemen
t
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Dealing with competition
StrategyStrategy is actually very straight forward. You
pick a direction and implement it.
- Ponder less, do more- Big aha- smart & realistic- Put right people in the right jobs- Employ best practices & continually improve
Budgeting:- How to beat last years performance
- How to beat competition?
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Dealing with competition
Business Expansion:oStart-Ups
- Best people in leadership positions
- Encourage it with much fanfare- Freedom to make their own decisions
Quality Improvement:oSix Sigma
- Improve operational efficiency
- Improve customer experience
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Your Career
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Getting promoted:
Learn & get toknow yourself
Job suited toyour strengths
Repeat wholeprocess until you
love your job
The Right Job:
Perform beyondexpectations
Find the rightmentors
Manage thosebelow you fairlybut with care
Learn frombusiness media
Be positive &fun
Balancing life & career:Compartmentalize and set your
priorities. Dont leave yourself out of
those priorities
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Jack Welch Personality
traits
Extraversion: High
Openness: High
Conscientiousness:
High
Agreeableness: Low
Emotional stability:
Internal Locus of
control Machiavellianism:
High
Risk taking: High
Type A personality
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Pros & Cons
Based on real
life corporate
situations Simple
language
Does notcontain clichs
of management
Good structure
Pros Cons
Preachy at
times
Bad argumentsfor against side
Could have
been moresuccinct
Almost self-
congratulatory
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Conclusion
No other management book will everbe needed- Warren E. Buffett
A candid and comprehensive look at
how to succeed in business - BillGates
Book integrates his personal & second
hand learning experiences gainedfrom running GE
Winning is extremely important